Finance

Our client is a major European financial institution, with affiliated institutions in each of the EU member states.

Problem

Our client, and each of its affiliates, requires accurate, detailed information about the state of the financial markets in Europe and globally. This involves modeling a financial universe that includes every security connected with the Euro and European markets (now over 30 million in total) and associated real time data from multiple information providers, e.g. Bloomberg, Standard & Poor’s. The relevant parts of this information have to be provided to each affiliate in accordance with its individual requirements. This information is highly sensitive, commercially and politically.

Previously, because they had no way to assimilate the vast amount of data involved, our client’s analysis had to be extrapolated from information on only a sample of major securities plus other key indicators. This was a slow process (they operated on a monthly cycle), much of it manual, and unavoidably limited in its accuracy.

Quality assurance was a major issue as well. Multiple departments are involved and internal collaboration was difficult and therefore slow. External communication was manual, time-consuming and frustrating for all parties.

Solution

Finworks Data has transformed the way this process works. Finworks Data:

Collects data on every security from a huge range of sources

Translates all received data into a consistent usable form

Builds profiles over time as to the quality and reliability of data sources

Project navigation

We provide extraordinary software and service, which enable our customers to continuously gather, manage, question and learn from all the data available to them - and make ongoing improvements to their businesses as a result.